A typical Melrose home is worth roughly $79,000
What kind of housing town is Melrose?
Read from the numbers below. The page puts what stands out first.
What it takes to buy in Melrose
Try your own numbers below.
That covers a typical Melrose home, with $178K to spare.
A two-bedroom rents for about $970 a month here, $510 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the New Mexico typical property tax (0.70% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $970
Renters already here pay a median of $833, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Curry County, NM): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
75% of Melrose households own their home
Half of Melrose’s homes were built before 1961.
New Mexico: 70% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
Neighbors talk housing
What Melrose buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.